Loans

TYPES OF LOAN

Loans are classified according to the purpose for which the loan accommodation has been applied, however, they maybe also classified according to security. The classification of loans according to four (4) categories is intended for standard recording purposes particularly in the books of the coop. The following are the four basic classifications of loans according to purpose:

Personal Loans

Loans proceeds for this type of loan shall be used for the personal consumption of the member-borrower. All other purposes which do not fall under the succeeding types of loans will be considered as personal loans.

Productive/Business Loans

This loan is usually granted to members engaged in business. This is usually intended for working capital requirements or for purchase of equipment to be used for business or other fixed assets related to business operations.

Agricultural Loans

Loans used for agricultural purposes like hog raising, farming, poultry, purchase of machineries for farming or fishing, and other agricultural endeavors are considered as agricultural loans.

The purpose of this loan is to finance the member’s shelter requirements like purchase of lot, purchase of house and lot, construction of house, and major repairs of the house. Minor repairs of the house may be lodged under personal loans.

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PRODUCTS

PETTY CASH o Maximum loanable amount is equivalent to the unencumbered Share capita l, Savings and time deposits. o Terms: Maximum of 6 months for less than P10,000.00 & 1 year for P10,000.00 and above. o Interest Rate – 16.50% per annum o Mode of repayment – Lumpsum or installment

News And Updates

As a globally competitive Credit cooperative, TCC or Tubao Credit Cooperative is geared towards uplifting the socio-economic conditions of the members through its various financial products and services.